Greater Jamaica Local Development Company

What it reported doing in 2025

See schedule owithin our target market, gjldc provides essential access to capital for qualified commercial borrowers who are unable to secure financing through traditional lending institutions. By addressing this financing gap, we help unlock business potential and drive economic development in underserved communities. Gjldc frequently partners with banks, credit unions, and other financial entities to co-finance projects that exceed our individual lending capacity, allowing us to support larger-scale ventures that generate meaningful economic outcomes.our approach to impact is both quantitative and community-focused. We measure success not just by dollars disbursed, but also by the volume of private capital leveraged, the strength and sustainability of the businesses we support, and, most critically, the number of local jobs created or retained. These metrics reflect our commitment to fostering inclusive economic growth and empowering entrepreneurs from all backgrounds to build and scale their enterprises.the covid-19 pandemic presented an unprecedented challenge to the small business community. In response, gjldc and our affiliate gjdc significantly expanded our technical assistance offerings, the urgency of the pandemic prompted us to more than double our outreach. Working closely with federal, state, and local government partners, we served as a trusted resource during a period of crisis, ensuring our business community had access to accurate guidance and critical capital.as we continue to emerge from the effects of the pandemic, gjldc remains focused on growth and opportunity. In 2025, we made 18 new loans, including both term loans and lines of credit, with an average loan amount of $19,400. These loans supported a diverse range of industries and helped businesses expand, stabilize operations, and hire new staff.since the inception of our loan fund, gjldc has loaned or leveraged more than $52.1 million, directly contributing to the creation or retention of over 2,100 jobs. These results underscore the importance of our work in building resilient local economies and supporting small businesses as engines of job creation and neighborhood revitalization.

Financial Efficiency

• Mission deployment rate: 33.8%; rating input score 34
• Program expense ratio: 96.6%; rating input score 97
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 65.4%; rating input score 94; 94th percentile among comparable filings
• Total-asset coverage ratio: 19.47; rating input score 96; 96th percentile among comparable filings
• Liabilities to assets ratio: 0.28; rating input score 20; 20th percentile among comparable filings
• Officer compensation ratio: 47.5%; rating input score 2; 2nd percentile among comparable filings

Growth

• Program expense growth: 21.3% per year; rating input score 100; 81st percentile among comparable filings
• Revenue growth: 20.2% per year; rating input score 100; 83rd percentile among comparable filings
• Asset growth: 15.9% per year; rating input score 100; 71st percentile among comparable filings